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MI SB1136
Bill
AI Summary
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Prohibits excessive pricing for gasoline, propane, and home heating oil during market disruptions, defined as any sudden market change caused by weather, supply disruptions, emergencies, or other abnormal conditions.
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Defines "excessively increased price" as any price increase exceeding 20% compared to pre-disruption prices, unless the seller can prove the increase reflects higher costs or an extraordinary pre-disruption discount.
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Authorizes the Attorney General to bring class action lawsuits for actual damages or $100 per person (whichever is greater) and empowers prosecutors to investigate violations through compulsory testimony and document production.
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Establishes civil penalties up to $10,000 per violation for individuals and $1,000,000 per violation for other entities, with potential treble damages if violations are flagrant.
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Makes knowing violations a misdemeanor punishable by up to 1 year imprisonment and/or $10,000 fine for individuals, or up to $1,000,000 fine for non-individual entities.
Legislative Description
Trade: business practices; excessively increased pricing for energy products and services during a market disruption; prohibit. Creates new act.
Trade: consumer goods and services
Last Action
Referred To Committee On Energy And Technology
6/30/2022